Croatia

According to latest benchmarking data, Switzerland tops the tables as the most expensive country in Europe in which to employ an office worker, says Colliers International’s latest Occupiers Cost Index shows.

M7 Real Estate has been advising Croatia’s largest pension fund, AZ, which is diversifying into real estate for the first time. Under the terms of the agreement the asset manager will source commercial property investment opportunities in Croatia and act as a real estate advisor and asset manager. AZ has made its first inve...

This year’s “Hotel Property Award 2020” goes to the Grand Park Hotel Rovinj in Croatia. The Award was presented yesterday as part of the Hotelforum conference. “This year’s prize-winner has impressed us by successfully combining the clear, modern architectural language of Croatian architects 3LHD from Zagreb with the elegant ...

CA Immo yesterday has signed and closed the sale of the Zagrebtower office building to Austrian property company S Immo AG at a 5% premium to H1 2020 book value.

CTP announced its goal to certifiy its entire portfolio of industrial buildings according to the BREEAM standard, and in January began the certification process in six countries with local appraisers. The investment company has 80% of its portfolio certified, and 100% of its country portfolios in Romania, Serbia and Poland.

M7 Real Estate (M7) has secured two new asset management and several new advisory mandates in Croatia. One mandate is managing a 4,500 sqm office building in Varaždin where the occupancy of the asset has increased to 65%, up from 32%. The company will also manage a third party portfolio of more than 200 mixed use assets, prim...

M7 Real Estate has refinanced a €4.8m debt facility secured against the Mani Business Centre in Zagreb, with Erste Bank Zagreb following the completion of M7’s asset management strategy for the property. M7 acquired the Mani Business Centre, a 13,915 sq m multi-tenanted office building, in December 2016 on behalf of M7 Centra...

Immofinanz is driving the expansion of its Stop Shop retail park brand and has now purchased eight retail parks in Slovenia, Serbia and Croatia. The purchase price totals approximately €90.5 million. The newly acquired properties are fully rented and generate annual rental income of roughly €7.2 million, which represents a gr...

The governments in the CEE region have made strong strides over the past few years when it comes to lowering their public debt levels. The gross public debt-to-GDP ratio for the CEE region as a whole declined from 53.9% in 2013 to 48.3% in 2017 – well below the Euro Area average of nearly 90%. Debt reduction was helped by bot...

M7 Real Estate (M7) has agreed six new lettings across circa 5,000 sq m of space at Mani Business Centre in Zagreb, Croatia. As a result of M7’s turnaround strategy for the property, the number of tenants has increased from 12 to 19, significantly improving the occupancy to 91% from 54% on acquisition. New tenants include a w...

With the opening of the refurbished and expanded Intersport and Stradivarius stores, the first stage of the expansion of Arena Centar in Croatia's capital has been completed, so far expanding the largest shopping centre by approximately 2,000 of the planned 5,500 sq metres.

Orbis Hotel Group has appointed Emeline Sýkora-Wintrebert as Area General Manager for South-Eastern Europe responsible for the hotel operations in the region as of March 2018. Sýkora-Wintrebert will be based in Bucharest and is in charge of a dynamically growing network of hotels, comprising currently close to 20 properties i...

Retail and hotel sectors recorded highest investment volumes in the Croatian commercial property market in 2017. According to information available and our estimate 2017 brought more than €320 million investment in transactions of 22 investment properties. This does not include pending transactions or confidential deals.

The Silverton Group from Frankfurt and Vienna based 720°Restructuring & Advisory, have extended their collaboration with the launch of a new joint venture, Silverton720 Debt Solutions d.o.o., loan servicing company based in Zagreb. Under the leadership of 720°'s owner Stefan Selden, the new business is targeting international...

Arena Centar has seenan important business year since its opening in 2010. Arena Centar has increased the in-store turnovers by 10% compared to 2015 and attracting over 9 million visitors. Within the past year, NEPI, New Europe Property Investments, acquired Arena Centar. Arena Centar delivered a strong performance during 20...

M7 Real Estate has made two further acquisitions for the recently launched CEREF I fund. The acquisitions in Croatia and Hungary totalling €14 million mark M7's first entry into both countries. M7 has acquired a real estate portfolio from Recovery Zrt. The portfolio consists of two retail centres where tenants include Kik Fas...

Arena Centar in Zagreb, the largest shopping centre in Zagreb, was sold for €235 million, the largest single asset transaction in the region to date. JLL advised the owners, a joint venture between Granit Polus of Hungary and Heitman of the USA. For the purchaser, New Europe Property Investors (NEPI) this deal increases their...

The Real Estate Workout department of Erste Group Bank AG, headed by Wolfgang Urban, has concluded the sale of the luxury resort Radisson Blu Resort & Spa Sun Gardens to a Chinese investor under the terms of a share deal. The property – one of the largest hotel complexes in Croatia – enjoys a prime beachside location in Dubro...